ICICI Pru Nifty Next 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 5, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Nifty Next 50 Index Fund Direct Growth Plan is an index fund with a NAV of ₹67.8184 as of 09 Sep 2026 and a scheme AUM of ₹10,116 Cr. Its 1-year, 3-year and 5-year returns are 8.42%, 16.8% and 11.68% respectively, and it sits in the High Risk category. Our view is that the fund has delivered stronger longer-term numbers than its benchmark, but the short-term pattern has been more uneven, so it suits investors who can stay invested through periods of volatility.
The portfolio is tilted toward a set of large individual names rather than a very broad top-end spread, with healthcare, automobile and capital-goods exposure prominent among the largest holdings. That can help the fund participate when these businesses lead, but it also means the path can differ noticeably from the benchmark over shorter periods.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹67.8184 as of 09 Sep 2026 |
| AUM | ₹10,116 Cr |
| Expense Ratio | 0.31% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Nishit Patel, Ajaykumar Solanki, Ashwini Shinde, Venus Ahuja |
The fund is managed by Nishit Patel, Ajaykumar Solanki, Ashwini Shinde and Venus Ahuja.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.5% | -4.69% |
| 3M | 5.56% | 0.93% |
| 1Y | 8.42% | -7.16% |
| 3Y | 16.8% | 6% |
| 5Y | 11.68% | 5.87% |
Recent performance has been mixed, but the fund still held up better than the benchmark over the latest 1-month period. The 3-month return improved sharply relative to the benchmark, which tells us the fund recovered better in the most recent quarterly window.
The longer view is more important here. Over 1 year, 3 years and 5 years, the fund has stayed ahead of the benchmark on every horizon available. That points to a stronger compounding record than the benchmark, even though the shorter windows show that the ride has not been smooth.
The time pattern also suggests a fund that can go through meaningful swings before settling back into a better longer-term trend. In practical terms, this means the return path may test patience in weak stretches, but the longer holding periods have so far been more rewarding than the benchmark comparison would suggest.
For an index fund, that split between shorter-term variation and longer-term outperformance is useful context. Our view is that the recent softness does not change the broader picture, but it does remind investors that the fund can move around more than a simple headline return number implies.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD ICICI Pru Nifty Next 50 Index?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding ICICI Pru Nifty Next 50 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Nifty Next 50 Index Fund Direct Growth Plan | 8.42% | 16.8% | 11.68% |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 33.02% | 30.03% | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 32.69% | Data not available | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 31.48% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 25.59% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 24.6% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest 1-year figure, this fund trails the sharper peer gains shown by the NASDAQ 100 and defence-oriented index funds, although those peers are built around different themes. The more relevant comparison is that this fund’s 3-year and 5-year returns are complete and steady, while several peers in the table do not yet have longer-track figures available.
That makes the story a little split. In the short run, the fund has not matched the strongest peer numbers, but over 3 years and 5 years it has shown a more developed return record than the peers with incomplete histories. For investors comparing only the available figures, the fund looks less explosive recently but more established over longer horizons.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Divi’S Laboratories Ltd. | Healthcare | 4.73% |
| TVS Motor Company Ltd. | Automobile & Ancillaries | 4.01% |
| Tata Motors Ltd. | Domestic Equities | 3.87% |
| Hindustan Aeronautics Ltd. | Capital Goods | 3.58% |
| Adani Power Ltd. | Power | 3.23% |
| Cholamandalam Investment and Finance Company Ltd. | Finance | 3.16% |
| Samvardhana Motherson International Ltd. | Automobile & Ancillaries | 2.97% |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.92% |
| Cummins India Ltd. | Automobile & Ancillaries | 2.71% |
| Bharat Petroleum Corporation Ltd. | Crude Oil | 2.58% |
The top 10 holdings account for approximately 33.76% of the portfolio.
To see all holdings, visit the ICICI Pru Nifty Next 50 Index Fund Direct Growth Plan page
The largest holding, Divi’S Laboratories Ltd., has a weight of 4.73%, so no single position dominates the visible basket. The drop from the first holding to the tenth is fairly gradual, ending at 2.58%, which suggests the disclosed holdings are spread across several meaningful positions rather than being tightly concentrated in one or two names.
Even so, the top 10 together account for 33.76% of the portfolio, and the full disclosed set contains 50 holdings. That combination points to a structure where the leading positions may matter, but the tail beyond the top 10 is still likely to be important in shaping overall fund behaviour. The sector mix in the largest names also leans toward healthcare, automobile-related businesses and capital goods, which may make the fund’s return pattern differ from a plain-market tracker at times.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk and who can stay invested long enough to ride through short-term swings. The 1-year, 3-year and 5-year return pattern shows that the fund has been more convincing over longer periods than over shorter ones, which makes patience an important part of the fit.
The benchmark comparison is also relevant: the fund has stayed ahead of the benchmark across all the available horizons, but the recent windows have been more uneven. Investors who want a smoother path or who need near-term stability may find that trade-off hard to accept, while those who can tolerate variation in pursuit of stronger longer-run participation may find the profile more suitable.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Nifty Next 50 Index Fund Direct Growth Plan?
The current NAV is ₹67.8184 as of 09 Sep 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its returns are 8.42% over 1 year, 16.8% over 3 years and 11.68% over 5 years.
How does the fund compare with the benchmark?
The fund has stayed ahead of the benchmark on 1-month, 3-month, 1-year, 3-year and 5-year figures available here. The stronger long-term result is the more important takeaway.
How does it compare with the peer funds listed here?
The fund’s 1-year return is lower than the strongest peer numbers shown, but it has complete 3-year and 5-year figures while several peers do not. That gives it a more established longer-term record in this comparison set.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund, and what is the exit load?
The fund is managed by Nishit Patel, Ajaykumar Solanki, Ashwini Shinde and Venus Ahuja. The exit load is nil.
Bottom line
ICICI Pru Nifty Next 50 Index Fund Direct Growth Plan shows a clearer long-term case than a short-term one. Its recent returns have been uneven, but the 3-year and 5-year figures remain ahead of the benchmark, which supports the view that the fund has compounded better over time than its latest stretch alone suggests. The portfolio’s top holdings are spread across several sectors rather than dominated by one name, so movement in a few positions may matter without creating extreme concentration. It is a fit for investors who can tolerate volatility in exchange for longer-horizon participation.
Published on 10 September 2026 at 9:29 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.